Tesla buying money guilt :-(

[elroy99]

If you are looking to feel better about your purchase, consider that you have found a way to combine an incredibly fun and beautiful car with environmental responsibility. You are also investing in an innovative company that is helping to redefine what transportation will look like.

Also, you need to consider the difference in cost between charging and filling up a tank with gasoline. I was able to put down about $15K on my car and finance the rest. While the monthly payments were higher than my previous car, they weren't higher than the payments on my previous car plus the cost of filling the gas tank.

 

[pharwood]

You can't do Tesla AND crypto -they're opposite sides of the energy use coin

Tesla is an attempt to use energy more wisely, replace fossil fuels with sustainable sources

Crypto is just an unbelievable waste of energy - that should be your first thing to learn about

You can do whatever you want. Maybe learn some more about Bitcoin mining and energy use. Don't rely on the MSM for any insight regarding crypto.

 

[MG535]

You can do whatever you want. Maybe learn some more about Bitcoin mining and energy use. Don't rely on the MSM for any insight regarding crypto.

AKA confirmation bias. Just ignore anything that doesn’t suit the conclusion you’re looking for.

 

[EVer Hopeful]

You can do whatever you want. Maybe learn some more about Bitcoin mining and energy use. Don't rely on the MSM for any insight regarding crypto.

of course he can do whatever he wants. I simply said that Tesla's approach to energy usage is pretty much the opposite of what is required for bitcoin mining

and sure; I'm ready to "learn some more about Bitcoin mining and energy use", so go ahead. Over to you . . .

 

[pharwood]

and sure; I'm ready to "learn some more about Bitcoin mining and energy use", so go ahead. Over to you . . .

Ok. This is off topic so sorry for detailing the thread.

Consider a remote source of energy. Could be coal, gas or oil, or a renewable like solar, wind, hydro or thermal. The location or type of energy makes it financially or logistically unviable to either store or transport the energy produced.

Hook the energy source up to Bitcoin mining rigs and the energy is converted to a store of value at source. The Bitcoin produced can either be sold for fiat or transferred worldwide for almost no cost where it can be converted into anything else of value.

The cheaper the original source of energy is to produce the more attractive it is to the miners. Therefore miners will migrate to wherever the energy is cheapest. Over time that source of energy will increasingly be renewable.

One of the biggest problems with renewables is storing the energy they produce. Bitcoin fixes this.

 

[Adopado]

One of the biggest problems with renewables is storing the energy they produce. Bitcoin fixes this.

This is bonkers. How can bitcoin store energy? It could store value, and If there was no other way to make monetary value then maybe, but why not just create value without wasting the energy? We don’t need to do it that way.

 

[yessuz]

Ok. This is off topic so sorry for detailing the thread.

Consider a remote source of energy. Could be coal, gas or oil, or a renewable like solar, wind, hydro or thermal. The location or type of energy makes it financially or logistically unviable to either store or transport the energy produced.

Hook the energy source up to Bitcoin mining rigs and the energy is converted to a store of value at source. The Bitcoin produced can either be sold for fiat or transferred worldwide for almost no cost where it can be converted into anything else of value.

The cheaper the original source of energy is to produce the more attractive it is to the miners. Therefore miners will migrate to wherever the energy is cheapest. Over time that source of energy will increasingly be renewable.

One of the biggest problems with renewables is storing the energy they produce. Bitcoin fixes this.

No. One of the biggest problems with SOME renewables is that there has to be backup capacity.
what you say about "storage" is utterly nonsense.
bit about miners... please.... Miners...

P.S. losses in energy transportation transportation are minimal compared to other issues.

source: I work in this field.

 

[browellm]

Ok. This is off topic so sorry for detailing the thread.

Consider a remote source of energy. Could be coal, gas or oil, or a renewable like solar, wind, hydro or thermal. The location or type of energy makes it financially or logistically unviable to either store or transport the energy produced.

Hook the energy source up to Bitcoin mining rigs and the energy is converted to a store of value at source. The Bitcoin produced can either be sold for fiat or transferred worldwide for almost no cost where it can be converted into anything else of value.

The cheaper the original source of energy is to produce the more attractive it is to the miners. Therefore miners will migrate to wherever the energy is cheapest. Over time that source of energy will increasingly be renewable.

One of the biggest problems with renewables is storing the energy they produce. Bitcoin fixes this.

Hahahahahahahahhaaa. Sorry.


Hahahahahahahahaaa.

 

[MG535]

No. One of the biggest problems with SOME renewables is that there has to be backup capacity.
what you say about "storage" is utterly nonsense.
bit about miners... please.... Miners...

P.S. losses in energy transportation transportation are minimal compared to other issues.

source: I work in this field.

Bet you’d be quoted in the MSM. Can’t believe anything you say.

/s

 

[drtimhill]

Just wondering how many of you out there are buying Teslas on normal incomes and do you feel guilty about it? I keep going back and forth between excitement at getting a Model 3 LR, and guilt/worry about it being a stupid financial decision.

My personal situation is that I'm a higher rate taxpayer, but only just. I am in my late-30s, have no kids (nor want any), am dating but not cohabiting. I don't have any debt except my mortgage, which is about 75% LTV on a 2-bed property in a reasonably priced area (so, not London!). I currently have a VW ID.3 that I just sold for £33k, and a motorbike that is worth between £15-18k that I'm intending to sell this summer as I've fallen out of love with motorcycling a bit. The money I'm getting for the car and bike will essentially pay for the Tesla, and my excuse for getting the Tesla is that it will combine the 'fun vehicle' factor of my motorbike with the day-to-day practical car factor of my ID.3 into one vehicle. I have about £50k in investments in an ISA, £5k emergency cash fund, and I'm saving/investing about 20% of my salary each month. I also pay into my workplace pension.

So part of me thinks, I can afford this. It will make me happy, life is short, why shouldn't I buy it?

But another part of me feels sick at the idea of blowing £50k on a car. I drive around my neighbourhood, which isn't an affluent area, and see very few new cars, let alone new cars as expensive as a Tesla and think, am I mad? I could take the £50k, add it to the £50k I have in investments, and pay off my mortgage in a few years probably. I have to admit, I couldn't sleep last night with all the worry going around my head that I'm being far too extravagant for my means in getting this car. Was wondering how everyone else justifies it? Or maybe you're all like "meh, I earn £200k per year working in the City... £50k is nothing to me", or "it's a company car, I'd never get it as a private buyer"...?

I also know that an obvious partial solution is to get the RWD version instead of the LR. But I'll still feel guilty about buying a £43k car too... Also, the performance of the dual motor forms part of my justification for buying the car (the motorcycle replacement bit), and I'm a real audio snob and missing out on the premium audio system would be something I'd regret every single day.

I’ll go out on a limb here and vote for waiting a few years, and losing that mortgage. I agree that you COULD afford it, but consider this .. EVs are evolving FAST .. in a few years the Tesla will probably have better batteries (4680), longer range, better self-driving (HW4) and god knows what else. And if you DO get a Tesla today in a few years time you will wish you had waited. Plus you will have the peace of mind of more financial security, which, like health, is something we only really appreciate when we don’t have it.

 

[DoricJim]

I’ll go out on a limb here and vote for waiting a few years, and losing that mortgage. I agree that you COULD afford it, but consider this .. EVs are evolving FAST .. in a few years the Tesla will probably have better batteries (4680), longer range, better self-driving (HW4) and god knows what else. And if you DO get a Tesla today in a few years time you will wish you had waited. Plus you will have the peace of mind of more financial security, which, like health, is something we only really appreciate when we don’t have it.

On the opposite side you could get hit by a bus in a year or two. Enjoy YOUR money as YOU want and forget anyone else’s opinion.

 

[kael13]

I think it's important to have a degree of being sensible whilst also living life to the fullest. If a Tesla makes you happy, get one, so long as you don't have to sacrifice other essential parts of your life.

I was fortunate to be able to buy my dream car and it makes me happy every time I get in it. Honestly, I think most people aren't interested in cars because they've never driven a nice one, and there is some absolute garbage out there. E.g. my previous car, a 200BHP Astra that had almost all the bells and whistles (except parking sensors, weirdly) was awful and I hated driving it. Just utterly unpleasant ride quality. But it was my stopgap, "I'm saving money" car so I put up with it.

My family has always been super sensible with money and barely spent on anything. Subsequently they're fairly well off, but they don't live like it. My dad bought a Tesla a few years ago and it makes him very happy. He recently had a big health scare and became very ill. Luckily he recovered but I think those long days and nights spent in hospital has made him do some serious soul searching - like people have said, you can't take your money with you.

 

[RedMod3]

I'm now wondering if I should put down a £100 returnable deposit on a red Model S Plaid. I'm really tempted; I could fund 2 /3 of the price and borrow for the rest. I too love driving my Tesla it's an equal experience to what I had when I picked up my new BMW F80 M3.

 

[DM206433]

I'm now wondering if I should put down a £100 returnable deposit on a red Model S Plaid. I'm really tempted; I could fund 2 /3 of the price and borrow for the rest. I too love driving my Tesla it's an equal experience to what I had when I picked up my new BMW F80 M3.

I'd say do it. If it's refundable you're not really risking anything. Side note: if you're considering driving it hard/tracking it, then you might want to budget for better brakes / upgrade kit, at least based on early reviews.

 

[PITA]

I'm now wondering if I should put down a £100 returnable deposit on a red Model S Plaid. I'm really tempted; I could fund 2 /3 of the price and borrow for the rest. I too love driving my Tesla it's an equal experience to what I had when I picked up my new BMW F80 M3.

I thought this too... but I'm standing down on the idea, now I've owned a M3P for a few months.

0-60mph in 3.1 seconds is already getting me into enough trouble.

I've agreed to only drive in 'Chill Mode' if my Wife is in the car, as "freefall brain panic" isn't appreciated at wide open throttle... apparently... and especially if she isn't expecting it and faceplants her Smartphone.

Suppose it's saved me another £60k

 

[drtimhill]

On the opposite side you could get hit by a bus in a year or two. Enjoy YOUR money as YOU want and forget anyone else’s opinion.

The OP asked for opinions, or did you not read his post?

 

[DoricJim]

The OP asked for opinions, or did you not read his post?

Sure did but at the end of the day it is his £££ and that is my opinion

 

[nightowl]

No point being the richest man in the graveyard.

"You can't take it with you when you go".
After someone said that to me, I felt more comfortable with my decision to buy my car.
Might as well spend money on things we enjoy, as long as it's not going to cause financial struggle as a result.

 

[RedMod3]

0-60mph in 3.1 seconds is already getting me into enough trouble.

I've agreed to only drive in 'Chill Mode' if my Wife is in the car, as "freefall brain panic" isn't appreciated at wide open throttle... apparently... and especially if she isn't expecting it and faceplants her Smartphone.

Suppose it's saved me another £60k

I've had the same problem when I put my foot down, but just think.... 0-60 in 2 secs, that would beat my friend's Ferrari!

I've decided to place a pre-order....if my financial situation improves significantly, I'll go ahead, but at the moment, that seems unlikely.

 

[PITA]

I've had the same problem when I put my foot down, but just think.... 0-60 in 2 secs, that would beat my friend's Ferrari!

I've decided to place a pre-order....if my financial situation improves significantly, I'll go ahead, but at the moment, that seems unlikely.

Well, no it wouldn't... because your friend would have a million excuses why his badge was better than your badge, and how 1 second didn't matter anyways until the both of you fell out with each other

The main issue I have with the Plaid... at least in the M3P once you get to 100mph, does slow down a little.

A Plaid doesn't want to slow down until you're in Jail, phoning your friend with the Ferarri to pick you up (assuming he's not in the adjacent cell) .